Facebook Has More Growth Ahead: Co-Founder

Facebook has much more growth still left and will tap its existing users as well as secure growth by increasing the total number of users, Eduardo Saverin, one of the four co-founders of Facebook who retains a 5 percent stake in the social media giant, told CNBC Wednesday.


The company is still “in the very early beginnings,” Saverin said, despite some analysts saying the social network had peaked.

“There are a lot of things to get done. What Facebook has done today is it’s allowed us to have an identity on the web, but there is a lot more to do,” he said.

Speaking at the Young Presidents’ Organization – a non-profit global networking platform global leadership summit in Singapore, Saverin, who is 29, added that there would be growth from both new users and existing users.

“What’s really unique is that we have just touched the surface of what type of applications and uses and the social graph and what Facebook has done can help with,” he added.

Facebook filed with the Securities Exchange Commission for an Initial Public Offering (IPO) earlier this month.